Compound will present its decentralized oracle soon

The Compound protocol will soon present Open Price Feed, which is now tested in numerous networks. It has been tested already for a couple of weeks on the Ethereum testnet.
The developers of Compound applied to the community asking to try the oracle for its fast future integration. The specialists audit the system with integration of each feature. Information will arrive from posters and price reporters, presented by different exchanges, though there will be only one source at the beginning – CoinbasePro. As for reporters, their data will be signed by the public key. As for the posters, they’ll be in charge of providing signed data.
Relying additionally on UniswapV2 price feed as an option, the system seems to be well-thought. Checking the anchor price, it examines the information it receives from the exchange. In case of deviation that surpasses 20%, it ignores the data received. It’s necessary to have the average for protection of possible attacks on Uniswap. The developers assert that probably with time they will be able to refuse from Uniswap support but the system needs to acquire many data reporters first to function without problems.
It’s worth saying that the protocol token was issued in June. COMP token provides the opportunity for protocol holders to decide the future of the protocol on their own and vote for different initiatives that will improve the system. It was decided to distribute half of the tokens among COMP holders. The other half is allocated between the investors of the Compound project and its team. The company that stood behind the project CompoundLabs, Inc. doesn’t operate the protocol any longer. Also, when the decentralized oracle is introduced, it will contribute to a higher level of independence, decreasing the dependence of Compound on its founders even more.

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